If proceedings have been initiated in the Federal Court of Justice and you agree to a subsequent decision, you can ask the court to rule with approval. The same rules apply to de facto relations, with the exception of Western Australia. There are few differences in the development of a binding financial agreement for de facto and married couples. The law also applies to same-sex de facto couples. If you would like advice on legally binding financial agreements, talk to a family lawyer or call us today for a brief chat. Paragraphs 90B-90KA of the Family Act 1975 deal with the financial agreements of the parties to the marriage. Sections 90 AU-90UN apply to financial agreements made by common-partner couples. The Act provides for financial arrangements between common couples only if the parties to the relationship were normally established in New South Wales, Victoria, Queensland, southern Australia, Tasmania, the Australian Capital Territory, the Northern Territory or Norfolk Island when the agreement was reached. Post-marital agreements are BFAs that make a couple during marriage. They are not as frequent as they were before marriage and are often used because the financial situation of one or both parties has changed considerably since the marriage. There are different types of financial arrangements to accommodate different types of relationships. The Family Advocacy Team of Stanley-Co Lawyers is an expert in the development of enforceable binding financial contracts for different situations: a binding financial agreement is an agreement between the parties to a marriage or a de facto relationship to determine the distribution of their assets and financial resources in the event of separation. These agreements may also cover the maintenance of the parties.
A binding financial agreement can be reached before, during or after a de facto relationship or marriage. Once your relationship is over, it may make more sense to submit consent orders to the family court. Once your approval orders have been filed, the court will make the requested orders and it will become binding on the parties. Approval orders are more difficult to withdraw than binding financial agreements. If you need help with consent orders, click here. We believe that such agreements are not appropriate in all situations and, therefore, we do not prepare them in all situations, but there are still circumstances in which such agreements are appropriate. In all cases, we will conduct an assessment of the particular circumstances of the party and, if necessary, we can help you by preparing a binding financial agreement for the protection of your property.